Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

Spectrum Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes oncology drug products.

China Mobile

Market Cap: HK$1.9t

Provides telecommunications and information related services in Mainland China and Hong Kong.

Longfor Group Holdings

Market Cap: HK$65.5b

An investment holding company, engages in the property development, commercial investment, asset management, property management, and smart construction businesses in the People’s Republic of China.

Horizon Construction Development

Market Cap: HK$3.6b

Operates as an investment holding company that provides equipment operation services in the People's Republic of China.

IRB Infrastructure Developers

Market Cap: ₹253.2b

Engages in the infrastructure development business in India.

Star Lake BioscienceZhaoqing Guangdong

Market Cap: CN¥11.2b

Engages in the manufacture and sale of pharmaceutical raw materials, and food and feed additives under the Star Lake and Yue Bao brand names in China and internationally.

China Resources Land

Market Cap: HK$201.1b

An investment holding company, engages in the investment, development, management, and sale of properties in the People’s Republic of China.

Bank of China

Market Cap: HK$1.9t

Provides various banking and financial services in Chinese Mainland, Hong Kong, Macao, Taiwan, and internationally.

Inspur Digital Enterprise Technology

Market Cap: HK$7.8b

An investment holding company, engages in management software development, cloud services, and sale of Internet of Things (IoT) solutions in the People’s Republic of China.

Haidilao International Holding

Market Cap: HK$78.6b

An investment holding company, engages in the restaurant operation and delivery businesses in Mainland China, Hong Kong, Macau, and Taiwan.

Sasseur Real Estate Investment Trust

Market Cap: S$847.5m

Invests in a portfolio of real estate and related assets.

Chambal Fertilisers and Chemicals

Market Cap: ₹171.0b

Produces and sells fertilizers primarily in India.

China Overseas Property Holdings

Market Cap: HK$15.6b

An investment holding company, provides property management services in Hong Kong, Macau, and Mainland China.

Sichuan Baicha Baidao Industrial

Market Cap: HK$10.1b

An investment holding company, provides tea drink products in the People’s Republic of China.

Industrial Bank

Market Cap: CN¥430.7b

Provides banking products and services in the People’s Republic of China.

NetEase Cloud Music

Market Cap: HK$42.0b

An investment holding company, engages in the operation of online platforms to provide music and social entertainment services in the People’s Republic of China.

Shenzhen Transsion Holdings

Market Cap: CN¥77.1b

Provides smart devices and mobile services in Africa, South and Southeast Asia, the Middle East, Latin America, and internationally.

SILICON2

Market Cap: ₩2.6t

Engages in the distribution of cosmetics products worldwide.

Carlsberg

Market Cap: US$110.1b

Produces and markets beer and other beverage products in Denmark, China, the United Kingdom, and internationally.

GWA Group

Market Cap: AU$637.3m

Research, designs, manufactures, imports, and markets building fixtures and fittings to residential and commercial premises in Australia, New Zealand, the United Kingdom, and internationally.

Emaar Properties PJSC

Market Cap: د.إ125.1b

Engages in the property investment, development, and development management business in the United Arab Emirates and internationally.

Hansen Technologies

Market Cap: AU$1.1b

Engages in the development, integration, and support of billing and customer information systems.

Hangzhou Binjiang Real Estate GroupLtd

Market Cap: CN¥30.9b

Provides real estate development services in China.

Jinneng Holding Shanxi Coal Industryltd

Market Cap: CN¥24.2b

Engages in the production and sales of coal in China.

Bank of China

Market Cap: HK$1.9t

Provides various banking and financial services in Chinese Mainland, Hong Kong, Macao, Taiwan, and internationally.

C&D International Investment Group

Market Cap: HK$36.8b

An investment holding company, engages in the property development, real estate industry chain investment services, and industry investment activities in the People’s Republic of China.

China Conch Venture Holdings

Market Cap: HK$17.8b

An investment holding company, provides various package solutions for energy conservation and environmental protection in Mainland China and the Asia-Pacific.

Apeloa PharmaceuticalLtd

Market Cap: CN¥18.5b

Provides raw materials and intermediates to various pharmaceutical factories in the People’s Republic of China and internationally.

Trajan Group Holdings

Market Cap: AU$99.9m

Develops, manufactures, and sells analytical and life science products and devices in Malaysia, Japan, Australia, New Zealand, the United States, Europe, the Middle East, Africa, and India.

REC

Market Cap: ₹902.1b

Engages in the provision of financing services for power generation, transmission, and distribution projects in India.

China Railway Group

Market Cap: CN¥125.7b

Operates as a multi-functional integrated construction company in Mainland China and internationally.

Micro-Tech (Nanjing)Ltd

Market Cap: CN¥14.7b

Engages in the research, development, manufacturing, and sale of invasive medical devices in China and internationally.

New Hope Dairy

Market Cap: CN¥14.4b

Produces and sells dairy products in China.

Acrow

Market Cap: AU$324.7m

Provides smart integrated construction systems across formwork, industrial services, and commercial scaffolding in Australia.

China Construction Bank

Market Cap: HK$2.0t

Engages in the provision of various banking and related financial services to individuals and corporate customers in the People's Republic of China and internationally.

Milkyway Chemical Supply Chain ServiceLtd

Market Cap: CN¥8.5b

Provides chemical supply chain solutions worldwide.